Coral Multi TF Meter
30 USD
Demo downloaded:
2
Published:
4 February 2022
Current version:
1.1
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On the surface the "Multi Timeframe Meter" and "Rate of Change dashboard" may seem pretty similar, at least in terms of the data being displayed. In practice, the information provided by each indicator is quite distinct, and thus each indicator is used in different circumstances.
The Multi-TF Meter is useful for observing how a single currency is moving on all monitored timeframes. It can show you, for example, when smaller timeframe movements are changing away from, or moving back towards, larger timeframe movements. It's great for situational awareness of direction and size of movement for a single currency pair. This meter is showing the magnitude of movement, relative to the average movement of a given timeframe (based on ATR).
The Rate of Change dashboard is more about monitoring the speed of movement of multiple symbols at the same time. For example, if you only want to enter into a EUR trade when all EUR pairs are moving strongly together, this dashboard will let you see this very easily. You can use the symbol filtering feature of the dashboard to quickly limit the list to all symbols containing a single currency; or you can put the dashboard in "Individual Currency" mode to have each row show the average movement for that currency across all available pairs. Either way, you get a sense of how strongly a single currency is moving, and you can compare this to other currencies or pairs. In addition, you can receive alerts when strong movement is observed, allowing you to quickly jump to a chart and assess market conditions.
Differences between "Coral Multi Timeframe Meter" and "Coral Rate of Change Dashboard"
(Exposure, BIAS)